Riga, Dec 19 (LETA) - The forecast of personal income tax in the next year's budget of Bauska municipality is planned to be 10 percent higher than this year, according to the budget for 2025 approved at the meeting of the municipal council on Thursday.

Bauska municipality is one of the first municipalities to approve a budget for next year.

The budget includes both development projects already agreed on by the council and co-funding for new high-profile projects.

The revenue of the Bauska municipality's basic budget in 2025 is planned at EUR 79.63 million, which is less than the basic budget expenditure of EUR 86.08 million.

89 percent of the basic budget expenditure of EUR 76.31 million are earmarked for the basic functions.

The most significant part of the Bauska municipality's basic budget revenue is tax revenue, which is planned at EUR 41.81 million in 2025, or 52.5 percent of the total basic budget revenue. The largest share is personal income tax, which accounts for 46.9 percent of the total revenue, as well as real estate tax - 5.4 percent of the total revenue.

The personal income tax forecast for 2025 is EUR 37.31 million, an increase of 9.9 percent compared to the 2024 forecast. The municipality claims that this confirms the growth of economic activity in Bauska.

In 2025, the municipality will continue to implement various support programs aimed at providing co-funding for both community initiatives and participation in various activities. Significant funding is earmarked for participatory budget projects, both for projects supported in the 2024 call for proposals and for projects supported in the 2025 call for proposals.

"The timely prepared draft budget for 2025 confirms the financial stability of the Bauska Municipality with a constant upward trend," said Aivars Okmanis (National Alliance), Chairman of the Bauska Municipal Council.